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Love is in the air at fast-fashion retailer Target this month with the launch of the Prabal Gurung for Target capsule collection. Fashionistas across the country have been counting down to the launch date of the collection since the announcement last fall, garnering the most anticipation for a Target collaboration since Missoni. In fact, a ticket to the launch party in New York last night was one of the hottest tickets in town.

The excitement was sparked further with the release of the movie-poster-like ad campaign featuring Olivia Thirlby, and the collection look book that hit the blogs last month. Described by Gurung as being “inspired by love,” the looks are on trend for Spring, featuring electric, bold colors in a variety of patterns on ruffle-y dresses, shorts, blazers, separates, and shoes. The designer is one of the most prominent on the fashion scene right now, continuously putting out inspired and innovative collections. He never ceases to awe me season after season.

Warning: launch may cause mass shopping hysteria. I suggest you arrive first thing in the morning and wear ample padding if you plan on buying in-store when the collection hits on February 10th. Which brings me to my next (and often-pondered question): WHY IS THERE NOT A TARGET IN NYC???

In the latest installment of the Shops at Target, the retailer is partnering with the owners of NYC’s carefully curated fashion haven, Kirna Zabête. Sarah Easley and Beth Buccini – whose Soho store was one of the first lifestyle shops in the city offering fashion, home goods, accessories, and decor from top labels such as Celine, Pierre Hardy, and Azzedine Alaia – have created a 100 piece collection for Target of items they would want to wear themselves (you can see for yourselves in this new collaboration video, highlighting their adorable southern accents).

Fashion Etc. offered up a first look at the collection yesterday morning, marked by lots of lace stockings, layering, bright colors and patterns. I am sure women will be lining up outside Target doors when the collection launches on September 9th!

Discount retailer Target and luxury department store Neiman Marcus are teaming up for a limited edition collection of merchandise for holiday 2012. In this unlikely pairing, 24 CFDA designers have been tapped to create up to three items each that will be sold in both chains, ranging in price from $7.99 to $499.99. Featured designers include Oscar de la Renta, Tory Burch, Carolina Herrera and Diane von Furstenberg (for a complete list of contributing designers, see image below). These fashion all-stars have created items in men’s, women’s and children’s apparel and accessories, in addition to a few home goods, electronic accessories, and pet accessories, reports Women’s Wear Daily.

Both Neiman Marcus and Target have strong followings and, in this era of high-low dressing, there are surely overlap customers. The collection debuts December 1, but WWD’s sources expect product to run out “in a matter of several days, or at most two to three weeks.” Mark your calendars!